frugality

frugality

The Differences Between Being Cheap vs Being Frugal

Our culture is sometimes a little confused about the virtue of saving money. On one hand, we praise people who get great deals, but if the people in question hunt for the deals too hard, they are dismissed as being cheap and told that they should live a little. The truth is that there are always two sides to every story, and therein lies the important difference between being frugal and being cheap. While these two words can technically describe the same behaviors (i.e. checking deals, looking for bargains, or making comparisons), there is a world of difference between them regarding the attitude that is expressed. Understanding the difference between frugality and being cheap is a good way to develop a mature and nuanced attitude towards money.